Benvenue Medical has received $25 million in Series D funding from existing investors DeNovo Ventures, Domain Associates, Technology Partners and Versant Ventures. Benvenue intends to use the funds to support its three minimally invasive products that treat degenerative disc disease (DDD) with spinal fusion and vertebral compression fractures (VCFs) on the global market. The funds will additionally be used to bring those products to the U.S. market.
"Our investors share our excitement about our rapid growth and positive momentum, and we're gratified by their continued support for our vision and progress," said Robert Weigle, Benvenue CEO.
The investors, for their part, expressed confidence in the team at Benvenue. Nimesh Shag, principal at Domain Associates, called the company “innovative” and praised their “top-notch team” in a statement.
The three products Benvenue will be carrying with this money are:
The Kiva VCF Treatment System, which currently is commercially available in Europe. According to the company, the Kiva has been used to treat 800 VCFs globally. In Europe, the device is distributed by Zimmer Spine. Kiva is undergoing a clinical trial to support 510(k) market clearance from then U.S. Food and Drug Administration;
The Blazer Vertebral Augmentation System, also used to treat VCFs. It is the first one of Benvenue’s clinical products to be commercially available in the United States; and
The Medical Luna Interbody Spacer System for spinal fusion procedures. Benvenue currently is enrolling patients for a European post-market study, after which the device will be available in the European Union. The company intends to submit a 510(k) later this year.
Benvenue Medical is based in Santa Clara, Calif. The company primarily is focused on spine repair devices.